Kerela-based jewellery retail chain Malabar Gold has inked a deal with Gujarat-based diamond manufacturer and marketer Mahendra Brothers to launch their exclusive diamond store in Mangalore under the brand name — MINE.
The brand has been named MINE as it comes straight from the diamond source and the store would offer a range of diamond-studded jewellery in gold and platinum with contemporary and traditional designs, according to a top company official.
MP Ahmed, chairman, Malabar Gold, said, “The brand has been created to meet the increasing demands of diamond-studded jewellery. MINE will be exclusively present in Malabar Gold outlets.”
With an investment of Rs 300 million, the partnership will see seven stores being operational in next two to three weeks. With this project Mahendra Brothers has marked its entry into retail sales.
Malabar Gold has 25 showrooms spread across India and UAE. It also plans to open four stores in UAE, with one each in Qatar, Saudi Arabia, Kuwait, Oman and Bahrain.
— IndiaRetailing Bureau